The 2024 World Competitiveness Ranking (WCR) has revealed Brazil’s decline, dropping to 62nd among 65 nations, as reported by the International Institute for Management Development (IMD). This marks a continuous fall from its 56th position in 2020, placing it just above Peru, Nigeria, Ghana, Argentina, and Venezuela.
While Brazil shows an improvement in Economic Performance, moving from 41st to 38th, it lags in Government Efficiency at 65th, with Business Efficiency and Infrastructure at 61st and 58th. These areas pose significant challenges to Brazil’s competitiveness.
Identifying key areas for improvement, the Dom Cabral Foundation recommends enhancing education, adapting to technology, upgrading infrastructure, and promoting inclusivity and innovation. Addressing these challenges is essential for Brazil to climb in the rankings and ensure sustainable progress.
The annual IMD report serves as a guide for nations striving for resilience and growth in a dynamic global economy. It also aids in aligning with global goals like the Sustainable Development Goals (SDGs).
Key Takeaways:
- Brazil’s rank drops to 62nd in the 2024 World Competitiveness Ranking.
- Improvement in Economic Performance, but lagging in Government Efficiency and Infrastructure.
- Recommendations include enhancing education and promoting innovation.
- The IMD report helps nations assess progress and align with global goals.
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